Article (17) Disposition of Participants' Purchased Securities in Favour of the BSE

17.1 To secure due payment of net to pay amounts due from a Participant to the BSE, the BSE shall have the right to dispose of all or any securities purchased in favour of the failing Participant, provided that the right of disposition shall subsist until such time as the failing Participant's obligations have been fulfilled.
17.2 The proceeds of resale of the purchased securities shall be transferred to the BSE's operating account. The CSU shall immediately upon receipt of such amounts instruct the Settlement Bank to debit the BSE's operating account and credit the Guarantee Fund account for the amount of such proceeds of sale of mortgaged securities, net of any commission, costs, fees and expenses.